Everest Infrastructure ANZ (Everest) has completed the acquisition of a nationwide portfolio of tower assets from Vertel. With this acquisition, Everest Infrastructure ANZ, a subsidiary of Pittsburgh-based Everest, has expanded its tower portfolio in Australia after completing the purchase from Australian telco Vertel.
Also Read: STC Group and Saudi’s PIF Ink Deal to Form Region’s Largest Telecom Tower Company
Acquisition Details
Financial terms, along with the specific number of tower assets acquired, were not disclosed. However, Everest stated that the transaction expands its presence in Australia to more than 100 locations across the country.
Everest noted that the wireless tower assets included in this transaction, located throughout New South Wales, Western Australia, and Victoria, complement its portfolio of strategically located assets.
Strategic Expansion
"Everest is pleased to have been selected by Vertel for this transaction," said Everest Infrastructure Partners ANZ. "This expands Everest’s regional footprint to over 100 locations across Australia. With several thousand communications sites in the pipeline, Everest has established itself as a leading independent tower company serving the infrastructure needs of wireless carriers across Australia."
"From the outset, Everest offered the most compelling proposition by identifying sites which maximized portfolio valuation," said Vertel. "We look forward to Everest owning and operating these communications sites going forward, with Vertel continuing to run its own network through these sites."
Also Read: Axiata Group to Sell Myanmar Telco Tower Business for USD 150 Million
Everest owns more than 2,500 communications tower sites in the United States, Australia, New Zealand, and Portugal. Vertel is an Australian-owned and operated telecommunications carrier and ICT-managed services provider.
